GroundRules
24 CFR 320.8: Excess Yield Securities.
Where this section sits in the code
- Title 24—Housing and Urban Development
- Subtitle B—Regulations Relating to Housing and Urban Development
- CHAPTER III—GOVERNMENT NATIONAL MORTGAGE ASSOCIATION, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
- PART 320—GUARANTY OF MORTGAGE-BACKED SECURITIES
- Subpart A—Pass-Through Type Securities
(a) Definition. Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities.
(b) GNMA guaranty. The Association guarantees the timely payment of interest as provided by the terms of the security.
Collected 2026-08-27T02:24:55Z. Source file · JSON